Four of the most jaw-dropping working practices at Sports Direct July 22, 2016 The dire working practices at Sports Direct have come under the spotlight again today as the Business, Innovation and Skills committee released the report outlining its findings on the company – and it wasn't pretty. Founder Mike Ashley has started a review looking at the conditions at Sports Direct's Shirebrook warehouse and in its stores, which [...]
Sir Philip Green hits back at accusations that he ruined a deal to save BHS June 8, 2016 Retail tycoon Sir Philip Green today hit out at accusations that he intervened in a deal that could have saved BHS. Speaking to City A.M., a spokesperson for Green said: "Sir Philip Green provided significant funding to BHS to give it every chance of success under new ownership. He would have welcomed any genuine rescue plan [...]
Sports Direct share price drops as it faces investor rebellion at AGM in Shirebrook September 7, 2016 Sports Direct investors are making their dissatisfaction with the retailer known, with major shareholders rebelling despite the company's promises to reform. And the company's share price reflected this ire, with the stock closing down by 8.5 per cent, having dipped by as much as 10 per cent earlier in the day. [stockChart code="SPD" date="2016-09-07 16:34"] [...]
Mike Ashley is the least popular director among Sports Direct shareholders September 9, 2015 Mike Ashley is the least popular director at Sports Direct among shareholders, according to votes taken at the retailer's AGM held yesterday. The multi-billion-pound business, which Ashley set up in 1982, comfortably passed all the requisite resolutions including the re-election of all its directors. But the numbers revealed by Sports Direct showed proportionately [...]
Sports Direct has extended its Debenhams put option May 12, 2016 Sports Direct International has extended its Debenhams put option by a year – meaning shareholders in Mike Ashley's retailer will continue to be concerned with the fate of the department store, whether they like it or not. Sports Direct entered into the original agreement with Goldman Sachs in 2014. The stake was built up to 16.6 [...]
MPs reject Ashley’s Sports Direct warehouse visit demand May 26, 2016 An influential committee of MPs has declined a request from Sports Direct owner Mike Ashley to visit one of his warehouses. Ashley asked the Business Innovation and Skills committee to attend his Shirebrook warehouse as a precondition for his attendence to a Parliamentary hearing on 7 June. However, the MPs have rejected the suggestion, while [...]
BHS liquidation rumours dismissed: Sale expected “early next week” May 20, 2016 A sale of BHS as a going concern could be revealed as early as next week – but there are still concerns that the iconic retailer may end up being liquidated. A source close to the situation has told City A.M. that bids are still being mulled and it is hoped BHS will be sold [...]
Labour leadership contender Owen Smith wants an inquiry into working practices at Asos August 10, 2016 An urgent inquiry into working practices at online retailer Asos is necessary, Labour leadership contender Owen Smith has said. Smith today called for an inquiry to deal with employment practices at Asos, warning it is "the new Sports Direct". Writing to chair of the Business, Innovation and Skills Select Committee Ian Wright, Smith asked for consideration [...]
Sports Direct AGM: Mike Ashley, Keith Hellawell and retailer’s remuneration policy easily approved September 9, 2015 Dickension protesters at the back, you can stop demonstrating now. The votes have been cast and every resolution put forward at Sports Direct's AGM today has been passed. You could go as far as to say with flying colours. Which will come as a surprise to very few people given that founder Mike Ashley [...]
Sports Direct shareholder Royal London Asset Management to vote against Mike Ashley at AGM September 7, 2015 Mike Ashley is no stranger to investor unease, but he could be heading towards a bigger upset at this week's AGM. Following guidance issued by shareholder group Pirc, now Sports Direct shareholder Royal London Asset Management (RLAM) has said it will vote against Ashley's reinstatement on the board this year. Ashley Hamilton Claxton, [...]